Canada PMI

Canada: Purchasing managers index soars in February

March 4, 2011

The Ivey Purchasing Managers Index (PMI) sponsored by the Richard Ivey School of Business and the Canadian Management Association surged from 41.4 points in January to 69.3 points in February. The reading represented the best result since October 2010 and came in well above market expectations, which had the index increasing to 51.7 points. On a seasonally adjusted basis, the Ivey PMI increased to 70.8 points in February. With the February increase, the PMI jumped above the 50-point threshold, indicating that manufacturing production is expanding. The substantial improvement in the index was mostly driven by better results in the prices and employment components.

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The Ivey Purchasing Managers Index (PMI), prepared by the Richard Ivey School of Business, declined a seasonally-adjusted 2.6 points from November to 60.4 in December—coming in below the 62.2-point reading that market analysts had expected.